Following a sharp drop in Tesla’s share price, outlets reported that the world’s richest person, Elon Musk, had “lost” US$34 billion (£25 billion) in a single day. That figure exceeds the annual GDP of countries like Iceland, Jamaica or Mauritius. Gaining or losing even 0.001% of that wealth would be life-changing for most people.
But, this “loss” is entirely nominal. A decline in share prices means Musk is technically worth less. If prices rebound, so does his net worth.
